Tech companies have complained that the business and others like it are a thorn in their side that threaten frivolous, expensive and time-consuming lawsuits.

Intellectual Ventures defends its work and argues it is defending intellectual property and increasing the value of innovation.

The company has not been a stranger to Capitol Hill.

Last year, it spent more than $1 million on lobbying, mainly for copyright and patent issues, according to data compiled by the Center for Responsive Politics.

The new PAC could be a sign that Intellectual Ventures is feeling increased heat in Washington.

The Obama administration and top members of Congress have taken steps to reform the patent process. The White House unveiled three new executive actions and held an event with Commerce Secretary Penny Pritzker and National Economic Council Director Gene Sperling to push the issue on Thursday.

A patent reform bill called the Innovation Act passed the House in December but has yet to gain steam in the Senate.